{"id":2429165,"date":"2025-04-30T10:48:01","date_gmt":"2025-04-30T14:48:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-blames-biden-for-shrinking-economic-first-quarter\/"},"modified":"2025-04-30T10:49:31","modified_gmt":"2025-04-30T14:49:31","slug":"trump-blames-biden-for-shrinking-economic-first-quarter","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-blames-biden-for-shrinking-economic-first-quarter\/","title":{"rendered":"Trump blames Biden for shrinking economic first quarter"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-blames-biden-for-shrinking-economic-first-quarter%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2429165&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/final-straw-hollywood-reporter-sources-say-disney-wanted-to-fire-carano-in-november\/\" title=\"\u2018Final Straw\u2019: Hollywood ...er Sources Say Disney Wanted To Fire Carano In November\">recent social media post<\/a>, former President Donald Trump attributed the unexpected contraction of the U.S. economy to his successor, President Joe Biden, declaring that the <a href=\"https:\/\/amzn.to\/3YuVZYV\">current economic issues stem<\/a> from Biden&#8217;s policies. Trump emphasized that his governance only inherited poor economic conditions starting January 20th and critiqued Biden&#8217;s management of the economy, stating, &#8220;This is Biden&#8217;s Stock Market, not Trump\u2019s.\u201d <\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/under-trump-americans-have-seen-their-best-wage-growth-in-40-years\/\" title=\"Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years\">economic data released<\/a> by the Bureau of Economic Analysis revealed a contraction at a rate of 0.3% annualized in the first quarter of 2025, marking the first decline since the COVID-19 pandemic. This follows a previous growth of 2.4% in the last quarter of the previous year. Trump voiced optimism that despite current challenges, the U.S. economy will see a resurgence due to his proposed tariffs and trade policies, dismissing the negative figures as a byproduct of Biden\u2019s &#8220;bad numbers.&#8221;<\/p>\n<p>Peter Navarro, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-swipes-at-trump-trade-adviser-peter-navarro-over-ivy-league-education-washington-examiner\/\" title=\"Elon Musk swipes at Trump trade adviser Peter Navarro over Ivy League education - Washington Examiner\">senior trade adviser<\/a> to Trump, echoed these sentiments, blaming Biden&#8217;s economic policies for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/donald-trump-says-joe-biden-must-go-in-order-to-fix-us-economy\/\" title=\"Trump: Biden must go to fix US ....\">ongoing inflation issues<\/a>. However, analysts suggest that American consumers may soon feel the financial pinch from rising prices as companies adjust to new trade measures. Despite economic setbacks, Trump remains confident that the U.S. will experience notable growth in the near future, urging patience as the impacts of his policies materialize.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Trump blames Biden for shrinking economy: &lsquo;He left us with bad numbers&rsquo;<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2110386\" class=\"tpd-featured-video bridtv\"><\/div>\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">In a fiery social media post, President&nbsp;<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\" target=\"_blank\">Donald Trump<\/a>&nbsp;blamed the&nbsp;<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\" target=\"_blank\">economy<\/a>&lsquo;s unexpected contraction on his predecessor, former President&nbsp;Joe Biden.<\/span><\/p>\n<p>&ldquo;This is Biden&rsquo;s Stock Market, not Trump&rsquo;s. I didn&rsquo;t take over until January 20th,&rdquo; Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114427089568235019\" target=\"_blank\" rel=\"noopener\" title=\"\">said Wednesday morning on Truth Social<\/a>.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3396132\/watch-live-trump-holds-cabinet-meeting-at-the-white-house\/\">WATCH LIVE: Trump holds Cabinet meeting at the White House<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3394541\/trump-100-day-report-card-grading-elon-musk-doge\/\">Trump&#8217;s 100-day&nbsp;report&nbsp;card: Grading Elon Musk&#8217;s DOGE cost-cutting efforts<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3395947\/michigan-workers-bank-job-boom-trump-tariffs\/\">Michigan workers bank on the job &#8216;boom&#8217; Trump promised with his tariffs<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>Data published Wednesday by the<a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3395691\/economy-shrank-first-quarter-major-warning-sign\/\" target=\"_blank\" rel=\"noopener\" title=\"\"> Bureau of Economic Analysis<\/a> showed that the economy contracted at a 0.3% annual rate in the first quarter of 2025. In contrast, last year&rsquo;s final quarter saw economic output increase by a solid 2.4%, according to the report on&nbsp;the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gdp\/\" target=\"_blank\" rel=\"noreferrer noopener\">GDP<\/a>.<\/p>\n<p>This marked the first time the economy contracted since the COVID-19 pandemic.<\/p>\n<p>The report also came as businesses are trying to get ahead of Trump&rsquo;s 90-day pause on his &ldquo;Liberation Day&rdquo; tariffs, which have upended the global financial stock market.<\/p>\n<p>However, Trump has painted the tariffs as a saving grace for the shrinking economy.<\/p>\n<p>&ldquo;Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden &lsquo;Overhang.&rsquo; This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!&rdquo; Trump cautioned.<\/p>\n<p>Trump&rsquo;s senior trade adviser, Peter Navarro, backed the president&rsquo;s assertions. While talking with reporters on Wednesday, he blamed Biden and his spending bills.<\/p>\n<p>&ldquo;We inherited a tremendously bad set of economic policies from Joe Biden,&rdquo; Navarro said. &ldquo;If you look at the Biden inflation problem, it certainly hasn&rsquo;t been fully cured.&rdquo;<\/p>\n<p>The Trump administration has touted the slogan &ldquo;90 trade deals in 90 days,&rdquo; with Treasury Secretary Scott Bessent saying there has been significant progress on a deal with India.<\/p>\n<p>However, ahead of any new deals, Americans will likely bear the costs of increased prices that businesses are passing on.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3395691\/economy-shrank-first-quarter-major-warning-sign\/\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>ECONOMY SHRANK IN FIRST QUARTER, SIGNALING MAJOR WARNING<\/strong><\/a><\/p>\n<p>Trump said China, which still faces a 145% tariff, &ldquo;probably will eat those tariffs&rdquo; in an interview Tuesday <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3395889\/four-takeaways-trump-first-100-days-abc-interview\/\" target=\"_blank\" rel=\"noopener\" title=\"\">night with ABC News<\/a>.<\/p>\n<p><em>Zach Halaschak contributed to this report. <\/em><\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2110386\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2110386\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump blames Biden for economic decline: &#8216;He left us bad numbers<\/p>\n","protected":false},"author":2658,"featured_media":2429166,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/02\/Trump-iran.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[3620,6442,9168,53432,3634],"class_list":["post-2429165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-biden","tag-blame","tag-economy","tag-q1-2023","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/02\/Trump-iran.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2429165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2658"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2429165"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2429165\/revisions"}],"predecessor-version":[{"id":2429169,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2429165\/revisions\/2429169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2429166"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2429165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2429165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2429165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}